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Visualized: The 100 Largest U.S. Banks by Consolidated Assets



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Infographic showing the top 100 U.S. banks in 2023 by value of consolidated deposits

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The 100 Largest U.S. Banks by Consolidated Assets

The largest 100 banks in the U.S. hold a combined $18.8 trillion in consolidated assets, but recent collapses of medium-sized banks like Silicon Valley Bank and First Republic have caused worries throughout the banking world.

This visual using data from the Federal Reserve ranks the country’s 100 largest banks by the size of their consolidated assets.

ℹ️ Consolidated assets refers to the sum of all of the bank’s assets. As well as liquid cash, this includes non-liquid assets like stocks, bonds, property, and the subtraction of its liabilities.

The Top 100 Banks

America’s biggest bank is JP Morgan Chase with over $3.3 trillion in assets, with Bank of America trailing behind in second place with $2.5 trillion. Here’s a closer look at the numbers:

RankBank / Holding Co NameConsolidated Assets ($ Millions)
#1JP Morgan Chase Bank$3,267,963
#2Bank of America$2,518,290
#4Wells Fargo$1,687,507
#5US Bancorp$590,460
#6Truist Bank$564,837
#7PNC Bank$556,314
#8Goldman Sachs$490,799
#9Capital One$469,432
#10TD Bank$401,245
#11Bank of NY Mellon$341,455
#12State Street$287,069
#13BMO Harris Bank$265,446
#14First Republic$232,944
#15Citizens Bank$221,955
#16First Citizens Bank$214,599
#17Fifth Third Bank$207,586
#18Morgan Stanely$205,845
#19Manufacturers and Traders Bank$202,363
#20Morgan Stanley Private Bank$195,667
#22Huntington National Bank$188,441
#23Ally Bank$186,383
#24American Express$165,450
#25HSBC Bank USA$164,492
#26Regions Bank$153,125
#27Northern Trust$150,573
#28Discover Bank$130,703
#29Flagstar Bank$123,633
#30Santander Bank$105,314
#31MUFG Union Bank$99,964
#32City National Bank$96,370
#33Comerica Bank$91,259
#34Zions Bank$88,574
#35First Horizon Bank$80,465
#36Webster Bank$74,793
#37Western Alliance Bank$70,986
#38East West Bank$67,219
#39Valley National Bank$64,314
#40Synovus Bank$61,726
#41Umqua Bank$53,986
#43Cadence Bank$51,693
#44Frost Bank$51,286
#45Old National Bank$47,554
#46BOK Financial$45,269
#47Pinnacle Bank$44,988
#48Southstate Bank$44,903
#49Pacific Western Bank$44,255
#50First National Bank of Pennsylvania$44,132
#51Raymond James Bank$43,359
#52Associated Bank$40,653
#53UMB Bank$40,354
#54Prosperity Bank$37,829
#55Hancock Whitney Bank$37,525
#56Barclays Bank$37,352
#57United Bank$37,095
#58TD Bank$36,460
#59Deutsche Bank$36,103
#60BNY Mellon$31,945
#61Commerce Bank$31,853
#62First Interest Bank$31,565
#63United Bank$30,108
#64Bank OZK$28,971
#66Texas Capital $28,592
#67First National Bank of Omaha$28,393
#68Glacier Bank$27,785
#69Simmons Bank$27,538
#70Fulton Bank$26,996
#71Arvest Bank$26,946
#72City National Bank of Florida$26,204
#73Ameris Bank$25,991
#74United Community Bank$25,815
#75First Hawaiian Bank$24,883
#76Bank of Hawaii$23,904
#77Eastern Bank$22,702
#78Centennial Bank$22,452
#79Washington Federal Bank$22,320
#80Cathay Bank$22,016
#81Customers Bank$21,768
#82Pacific Premier Bank$21,362
#83Stifel Banking and Lending$20,969
#84Bank of Hope$20,564
#85Atlantic Union Bank$19,990
#86Rockland Trust$19,445
#87Trustmark National Bank$18,875
#88Central Bancompany$18,850
#89DBA Independent Financial$18,793
#90First Merchants Bank$18,165
#91Mechanics Bank$17,946
#92Renasant Bank$17,479
#94Tristate Capital Bank$17,050
#95First Financial Bank$16,857
#97Bank of America$16,550
#98Wells Fargo$16,473
#99Citizens Bank$16,271
#100Bremer Bank$15,763

The first and second place banks combined account for around 30% of the consolidated assets on this list. On the flip side, the smallest bank is Bremer Bank at $15.8 billion in consolidated assets. While this seems small in the context of this list, there are actually thousands of even smaller commercial financial institutions in the country.

Many banks have seen significant changes to their ranking since the last Fed data at the end of 2022. BMO Harris moved up 10 spots, going from $177 billion in consolidated assets to $265 billion—an increase of 50%. In February, the bank acquired the San Francisco-based Bank of the West (which previously ranked 34th on this list).

First Citizens also saw its rank improve, going from 30th to 16th, thanks to the acquisition of the remnants of Silicon Valley Bank.

In May 2023, a planned merger between First Horizon and TD Bank was mutually terminated. The merger, had it gone ahead, would have seen TD Bank surpass the size of Capital One.

Banking Heavyweights

Typically, big banks are less of a risk for borrowers in terms of their liquidity, holding huge sums in diversified assets, whereas smaller and more regional American banks have a narrower margin for error. However, many other factors beyond size play into risk, like an institution’s loan portfolio or management style.

Volatility in the banking sector is expected to have implications on the wider economy. For example, bank lending capacity is expected to decrease by 1% this year, a shift which the IMF expects will take almost half a percentage point off the U.S.’ overall GDP.

The largest banks have set aside billions in anticipation of bad loans as a result of pressure from rising interest rates. JP Morgan Chase currently has $2.3 billion in provisions/reserves built. Here’s a look at some of the current reserves that banks have set aside based on most recent data:

BankReserves Built / Reserves ReleasedAs of
JP Morgan Chase$2.3 billionQ1 2023
Wells Fargo$1.2 billionQ1 2023
Goldman Sachs$972 millionQ4 2022
Citigroup$241 millionQ1 2023
Morgan Stanley$234 millionQ1 2023
Bank of America$124 millionQ1 2023

Bank Volatility

Small and medium sized banks (<$250 billion in assets) play an important role in the economy. Collectively, these banks are responsible for 45% of consumer lending and 80% of commercial real estate lending.

However, lending by these banks has been tightening up, given the current economic conditions and fears around bank collapses.

Overall, continued turmoil in the banking sector would likely reduce profitability for banks and ultimately slow economic growth.

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Ranked: The World’s Top Diamond Mining Countries, by Carats and Value

Who are the leaders in rough diamond production and how much is their diamond output worth?



A cropped chart showing the leaders in rough diamond mining and how much their diamond output is worth.

Ranked: World Diamond Mining By Country, Carat, and Value

Only 22 countries in the world engage in rough diamond production—also known as uncut, raw or natural diamonds—mining for them from deposits within their territories.

This chart, by Sam Parker illustrates the leaders in rough diamond production by weight and value. It uses data from Kimberly Process (an international certification organization) along with estimates by Dr. Ashok Damarupurshad, a precious metals and diamond specialist in South Africa.

Rough Diamond Production, By Weight

Russia takes the top spot as the world’s largest rough diamond producer, mining close to 42 million carats in 2022, well ahead of its peers.

ℹ️ Carat is the unit of measurement for the physical weight of diamonds. One carat equals 0.200 grams, which means it takes over 2,265 carats to equal 1 pound.

Russia’s large lead over second-place Botswana (24.8 million carats) and third-ranked Canada (16.2 million carats) indicates that the country’s diamond production is circumventing sanctions due to the difficulties in tracing a diamond’s origin.

Here’s a quick breakdown of rough diamond production in the world.

RankCountryRough Diamond
Production (Carats)
1🇷🇺 Russia41,923,910
2🇧🇼 Botswana24,752,967
3🇨🇦 Canada16,249,218
4🇨🇩 DRC9,908,998
5🇿🇦 South Africa9,660,233
6🇦🇴 Angola8,763,309
7🇿🇼 Zimbabwe4,461,450
8🇳🇦 Namibia2,054,227
9🇱🇸 Lesotho727,737
10🇸🇱 Sierra Leone688,970
11🇹🇿 Tanzania375,533
12🇧🇷 Brazil158,420
13🇬🇳 Guinea128,771
14🇨🇫 Central
African Republic
15🇬🇾 Guyana83,382
16🇬🇭 Ghana82,500
17🇱🇷 Liberia52,165
18🇨🇮 Cote D'Ivoire3,904
19🇨🇬 Republic of Congo3,534
20🇨🇲 Cameroon2,431
21🇻🇪 Venezuela1,665
22🇲🇱 Mali92

Note: South Africa’s figures are estimated.

As with most other resources, (oil, gold, uranium), rough diamond production is distributed unequally. The top 10 rough diamond producing countries by weight account for 99.2% of all rough diamonds mined in 2022.

Diamond Mining, by Country

However, higher carat mined doesn’t necessarily mean better value for the diamond. Other factors like the cut, color, and clarity also influence a diamond’s value.

Here’s a quick breakdown of diamond production by value (USD) in 2022.

RankCountryRough Diamond
Value (USD)
1🇧🇼 Botswana$4,975M
2🇷🇺 Russia$3,553M
3🇦🇴 Angola$1,965M
4🇨🇦 Canada$1,877M
5🇿🇦 South Africa$1,538M
6🇳🇦 Namibia$1,234M
7🇿🇼 Zimbabwe$424M
8🇱🇸 Lesotho$314M
9🇸🇱 Sierra Leone$143M
10🇹🇿 Tanzania$110M
11🇨🇩 DRC$65M
12🇧🇷 Brazil$30M
13🇱🇷 Liberia$18M
14🇨🇫 Central
African Republic
15🇬🇾 Guyana$14M
16🇬🇳 Guinea$6M
17🇬🇭 Ghana$3M
18🇨🇲 Cameroon$0.25M
19🇨🇬 Republic of Congo$0.20M
20🇨🇮 Cote D'Ivoire$0.16M
21🇻🇪 Venezuela$0.10M
22🇲🇱 Mali$0.06M

Note: South Africa’s figures are estimated. Furthermore, numbers have been rounded and may not sum to the total.

Thus, even though Botswana only produced 59% of Russia’s diamond weight in 2022, it had a trade value of nearly $5 billion, approximately 1.5 times higher than Russia’s for the same year.

Another example is Angola, which is ranked 6th in diamond production, but 3rd in diamond value.

Both countries (as well as South Africa, Canada, and Namibia) produce gem-quality rough diamonds versus countries like Russia and the DRC whose diamonds are produced mainly for industrial use.

Which Regions Produce the Most Diamonds in 2022?

Unsurprisingly, Africa is the largest rough diamond producing region, accounting for 51% of output by weight, and 66% by value.

RankRegionShare of Rough
Diamond Production (%)
Share of Rough
Diamond Value (%)
3North America13.5%52.8%
4South America0.2%2.4%

However diamond mining in Africa is a relatively recent phenomenon, fewer than 200 years old. Diamonds had been discovered—and prized—as far back as 2,000 years ago in India, later on spreading west to Egyptian pharaohs and the Roman Empire.

By the start of the 20th century, diamond production on a large scale took off: first in South Africa, and decades later in other African countries. In fact between 1889–1959, Africa produced 98% of the world’s diamonds.

And in the latter half of the 20th century, the term blood diamond evolved from diamonds mined in African conflict zones used to finance insurgency or crime.

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